Since 7 June 2022, PayPal has supported the transfer of crypto assets between its native app and external wallets, including custodial exchanges. The function, available to customers only in the United States (Hawaii excluded), was the most-requested feature since the fintech company rolled out its cryptocurrency services in November 2020, according to a press release.
Prior to the enhancement, PayPal allowed bitcoin (BTC), ether (ETH), Bitcoin Cash (BCash) and Litecoin (LTC) to be bought and sold only within the app. The added functionality, in addition to external wallets, allows users to send and receive crypto assets between other PayPal users with zero network fees. External transfers are subject to blockchain gas fees.
So how to send bitcoin from paypal to another wallet? Can you transfer crypto from PayPal? If you want to transfer crypto from PayPal and vice versa, but do not know how, our step-by-step guide is available below.
Can you transfer crypto from PayPal?
Since 7 June 2022, PayPal users in the United States (except Hawaii) can transfer bitcoin, ether, Bitcoin Cash and Litecoin from PayPal to external wallets and other PayPal users. PayPal has yet to announce the roll out of the function in other countries.
How to transfer crypto from PayPal
Keeping user-friendliness in mind, PayPal makes it fairly straightforward to send crypto from PayPal:
-Once logged into PayPal, enter the crypto section of the app
-Choose the coin you intend to transfer
-Tap the transfers button and select “Send” to transfer crypto to another unique crypto address.
-Complete ID verification (only necessary on first using the service)
-Enter the external crypto address you want to transfer to, either by copy/pasting or using the QR code function
-TRIPLE check the information
-Confirm the external transfer
How to receive crypto on PayPal (from external sender)
-Once logged into PayPal, enter the crypto section of the app
-Choose the coin you intend to receive
-Click or tap the Transfers button (blue icon with two arrows) then select “Receive.”
-Complete ID verification (only necessary on first using the service)
-You will be given a unique crypto address (the long string of letters and numbers of the screen). Share this with the sender, or if you are sending crypto from an external app yourself, copy/paste this address into the external app.
Beware that all crypto transfers are final and cannot be reversed. It is of paramount importance that you carefully check address information before finalising all payments.
How to send and receive crypto between PayPal users
It could not be easier. Simply go to the crypto section of the PayPal app, choose the coin you want to send, click “Send” and select your desired contact. Done!
How to send bitcoin from paypal to another wallet and Can you transfer crypto from PayPal? Now you know the steps. It's not that complicated, isn't it?
